Coffee Day Enterprises Ltd has reported a consolidated net profit of Rs 58.67 crore for the fourth quarter ended March 2022
The order comes after the company approached Sebi to settle the matter, pertaining to alleged violations of LODR (Listing Obligations and Disclosure Requirements) norms under the settlement mechanism
Coffee Day Enterprises Ltd (CDEL) said it has reduced debt "significantly" and the management is putting its best efforts to get back the company on track
After group company Sical Logistics was sent to NCLT, the listed company is next in queue
According to an exchange filing, for the March quarter, CDEL's outstanding debt was Rs 280 crore
The company had posted a net loss of Rs 184.94 crore in the October-December period a year ago, Coffee Day Enterprises Ltd (CDEL) said in a BSE filing
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While her appointment came as no surprise, she will have to rebuild a struggling enterprise that has been selling its non-core assets to prune its debts
Daughter of former Karnataka chief minister SM Krishna, she was earlier non-exec director at the firm; has been named at a time when the company's growth continues to decline
Bengaluru-based Cafe Coffee Day runs hundreds of coffee shops across India that brew cappuccinos and lattes for India's booming moneyed class.
Enterprise value of the business being pegged at Rs 65 crore
Located in Karnataka, plantations employ 3,000 people & export 20,000 tonnes of coffee annually
The company had said it was taking steps for recovery of dues from MACEL, while disclosing the findings of the investigation
His private firm MACEL had Rs 2,693 cr unaccounted dues towards Coffee Day Enterprises, finds probe
Investigation by CBI officer stated that Siddhartha's "Mysore Amalgamated Coffee Estates Ltd (MACEL) owes a sum of Rs 3,535 crore to the subsidiaries of Coffee Day Enterprise Ltd(CDEL)."
Sources said the management and BSR & Associates had several differences over valuation of subsidiaries
The company had posted a net profit of Rs 21.06 crore in the April-June quarter a year ago
Bagamane was appointed as Interim Chief Operating Officer and member of the Executive Committee of the Coffee Day Enterprises Ltd (CDEL) last year in July
An investigation by the board after the death of founder V G Siddhartha is likely to conclude that around Rs 2,500 crore is missing from CDEL's accounts